• Friday, April 19, 2024
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LandWey reviews delivery timelines for 2,000 home units

Developer deploys 3R model for waste management at Royal Palms Villa  ANIEFIOK UDONQUAK, Uyo  Jofame Integrated, the developer of Royal Palms Villa, a private estate being developed in Akwa Ibom State, says it is set to deploy best practices in its waste management systems at the estate. The estate is designed to be sustainable and compliant to human waste management using the  Resource Recovery and Rescue (3R) model.  Gideon MfonAbasi,  Jofame Integrated’s CEO, explained recently at the unveiling of the estate promises to be one its kind, adding that it is designed to manage its sewage and organic waste without heavy electro-mechanical components.  “The  anaerobic central  sewage treatment plant will treat, digest and convert biomass, sludge and biodegradable materials into biogas and nitrogen-rich liquid fertilizers,” the chief executive said.  The  eco-friendly and  green technology housing system, according to him, will reduce carbon foots in the state in response to SDG Goal 6 which  ensures sustainable management of water and sanitation.  The Villa which is strategically located on a 3.67-hectare prime land, is just minutes away from Ibom Icon Hotel and Golf Resort,  Nwaniba, Uyo. It will be equipped with fiber-to-home connectivity, and state-of-the-art energy-efficient lighting materials.  The company says it is out to democratize real estate by making the estate available to more people. “Royal Palm Villa provides a unique blend of safe and secure community living that welcomes its residents to feel at home.  “The beautifully landscaped garden behind the living areas will provide a unique, healthy and natural environment for recreation and also for the use of children to play with their friends,” the CEO said.  Continuing, he said, “the estate offers studio flats, 1 & 2-bedroom terrace apartments; 3, 4 & 5-bedroom detached apartments, club house, gate house/ utilities, and recreational areas. It  also boasts spacious living areas, kitchen /store, and office.”  MfonAbasi explained  that construction was already underway for a range of apartments, including studio apartments and five-bedroom detached units, adding that power lines were being installed with plans for over 150 apartments.  “This is the first  of its kind in Akwa Ibom State;  we are building a green compliant residential estate and we intend to work with International Finance Corporation (IFC) to own a green compliant certification.  We are working on a residential project that is going to be tech-driven, energy efficient and fully serviced and gated,” he said.  He recalled that in the last few years, they have looked at the state and seen that the real estate business is non-existent or primarily for the billionaires to benefit from, adding, “in reality, real estate is meant to be something for everyone and what our company is planning to do is to democratize real estate and make it available to more people.”  “Our company is committed to open up more space and challenge the statue-quo and be able to bring wealth to a greater number of Akwa Ibom people.  “We also believe that creativity and innovation is birthed in a serene environment and our commitment is to bring that kind of environment to Akwa Ibom State, where services work, where you are not bothered on how to get power.  “We have been doing it in the last ten years, we have two developments in Lagos State, one of it is a 3.3 hectare development and the other one that is ongoing is a 30-hectare development and right on Lekki-Epe Express Way.  “We felt that it was time to do it in Akwa Ibom State and we got a location that is exciting, a location that connects with our brand value, that is, live, work and play. Of course, you know that the Golf Course is a rallying point in Akwa Ibom State,” he said.  On other key features  of the estate, MfonAbasi listed drainage, security, paved roads, CCTV, play areas, greenery, streetlights. He also listed recreational amenities to include a lawn tennis court, a 5-a-side football court, and various sporting facilities, scheduled for  completion  before the second quarter of 2024.

LandWey Investment Limited, one of Nigeria’s largest residential development company, has released a review of the delivery timelines for its Urban Prime 2,000-unit Project, a housing scheme in Lagos poised to deliver 2,000 homes in 36 months.

A statement on Monday signed by the company’s managing director, Adeshola Bello, said the review became necessary following recent economic challenges posed by the COVID-19 pandemic, scarcity of skilled labour, price hikes, fluctuating FX and supply bottlenecks which have impacted negatively on its plans and projections thereby causing a delay in the delivery of the homes.

The company further disclosed that against the initial proposed 36-month delivery period, the entire Urban Prime 2,000-unit Project will now be ready in 60 months.

“In late 2019, we embarked on the Urban Prime 2,000-unit Project. We provided timelines based on an evaluation of project requirements at the time, but the project suffered some setbacks – in particular, it began at the onset of the Covid-19 pandemic and EndSARS protests, bringing tidal waves of the good, the bad, and the ugly, impacting our plans and projections.

“The scarcity of skilled labour, price hikes, foreign exchange constraints and supply chain bottlenecks are among the challenges that we have faced. Not to mention the complex work of managing the multiple vendors required to complete a single unit. These factors have resulted in not just significant costs overrun and increased project costs but also setbacks in the pace of construction and consequential delays in the delivery of homes.

“We recognize that these delays may have caused our subscribers anxiety and disruption to their plans, and we regret all inconveniences caused,” the statement said.

The real estate company further disclosed that despite the challenges, it has successfully delivered 35percent of the entire project with 40percent in active progress.

“Our new optimized work plan will help us scale up delivery speed on both the ongoing 40percent and the pending 25percent units. This improved work plan is scheduled to start on the 1st of October 2022. It will help us achieve enhanced productivity through efficient supply lines and bulk orders, expanded labour force and extended on-site work schedules.

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“The turnaround period for the entire Urban Prime 2,000-units Project is now extended to 60 months from the initial period. This, in effect, adds an additional 24 months to the initial 36 months proposed, with all units scheduled for delivery by the end of Q4 2024.

“Past delivery schedules will move forward by at least 12 months in most cases.

“Detailed and client-specific delivery schedules will be sent in due course. We are applying this enhanced work plan to our other projects as well and we are optimistic that we will see improvements in delivery speed across board,’ it added.

While appealing to its numerous subscribers over the anxiety and inconveniences the delay may have caused them, the company, however, noted that it has presented compensation plans to mitigate the conditions of its subscribers.

“To demonstrate good faith and our unrelenting commitment to delivering the project, we have at different times risen to the occasion to address complaints that have come in; and have continued to provide routine communications, compensation packages, and even refunds in deserving cases. These notwithstanding, our goal remains to deliver on the Urban Prime 2,000 units Project as initially promised but with adjusted timelines.

“We are aware that other developers in similar situations as ourselves have requested their subscribers to pay additional amounts to compensate for the increased project costs, but on our part, we remain committed to delivering the project at no extra cost to our subscribers.

“In spite of the upsides that our clients have in keeping their investment with us due to the amazing returns, we do not want to leave them without options. This is why we have presented compensation plans that can mitigate their current condition and avoid any misconceptions regarding our integrity or motives. We therefore implore any of our willing clients to use these provided options to address their concerns as we have learnt that other means prove counter-productive and mutually non-beneficial.

“We are a company built on values of integrity, hard-work and excellence. We are grateful to have been recognized for these values through multiple awards. The Urban Prime project specifically has won the prestigious International Award for Residential Development. Urban Prime was chosen from over 100 entries from over 50 countries and scrutinized by a judging committee made up of seasoned industry experts.

“We have also implemented Quality Management Systems in accordance with ISO 9001:2015 and are now ISO-certified. These are indicative of our commitment to excellence and determination to stand by our creed of integrity.

“In conclusion, as an organization that upholds best practices of empathy & fairness, we wish for all our clients to know that we remain open to exploring resolutions and options that are mutually beneficial to all parties,” the company concluded in the statement.